Sep 16, 2011
| Last Updated
- Growth in 2011 will suffer as external headwinds from the weaker U.S. outlook weigh on domestic demand.
- Consumer spending and business investment will continue to be the main growth drivers, offsetting weaker net exports amid faltering external demand and softer commodity prices.
- In response, the Bank of Canada (BoC) will further delay policy normalization to counterbalance moderating domestic and U.S. growth and fiscal austerity measures.
Figure 1: Latest Data and RGE Forecasts
*Year-end policy rates
Macroeconomic Dynamics: External Headwinds Threatening Domestic[...]
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